TAIPEI -- Taiwan's statistical authorities have slightly raised its forecast for the island's 2013 economic growth rate to 3.59 percent from 3.53 percent due to increasing private investment.

Statistical authorities predicted that the island's private investment will increase by 7.37 percent to 2.3 trillion New Taiwan dollars (77.7 billion U.S. dollars) due to the improved international situation and growing global demand for its goods.

It estimated that Taiwan's private consumption growth rate in 2013 will be 1.86 percent, and its exports will increase by 6.23 percent.

The figures indicate Taiwan's economic recovery, statistical authorities said.